WASHINGTON, Jan. 16 (UPI) -- Goldman Sachs and Morgan Stanley have agreed to pay $557 million to settle charges of improper mortgage and foreclosure processing, U.S. authorities said.
The U.S. Federal Reserve said the two banks reached an agreement similar to the $8.5 billion settlement announced Jan. 7 that involved Bank of America, JPMorgan Chase, Wells Fargo, MetLife Bank, Sun Trust, U.S. Bank, Aurora, Citibank, Sovereign and PNC.